Spread Co, the UK based Spreadbetting, CFD and Forex broker, has launched a new initiative for UK clients aimed at encouraging them to increase the size of their deposits. The broker will now pay interest of 2% per annum on any balance within each clients’ account that is not being used as margin within a £10,000 and £50,000 range.
How the interest is calculated
To qualify, clients will need an active spread betting account – and place at least 10 trades per calendar month. Your interest would be applied to a maximum of one account per household. Where there are multiple accounts, you’ll need to nominate your preferred account to receive interest. Spread Co will work out the interest daily, and pay it into your account at the end of each month.
|‘Uncommitted’ cash balance in your account||Monthly interest||Yearly interest|
If you need to withdraw your money – there’s no limit on how many withdrawals you make. However, to keep earning interest, you’ll need to have at least £10,000 of unutilised funds in your account.
As a UK regulated broker, Spread Co must adhere to the regulations imposed by the Financial Conduct Authority (FCA), the UK’s financial industry regulator. All of your money will be held in a segregated client bank account, in line with strict FCA rules about client money. Your funds will never be used for hedging or other purposes.
The Armchair Trader says
We think that if you are an active Spread bettor with a qualifying deposit, Spread Co’s interest return may offer a genuine alternative to a savings account for your cash holdings. To find out more about the offer – visit www.spreadco.com.
Please note, we do not advise that a novice spread bettor should consider this offer as it requires a great deal of trading discipline – your equity can quickly erode. See our article on trading with leverage if you do not understand margin trading.
About Spread Co
Spread Co Limited is a limited liability company registered in England and Wales with its registered office at 22 Bruton Street, London W1J 6QE. Company No. 05614477. Spread Co Limited is authorised and regulated by the Financial Conduct Authority. Register No. 446677. Operating for over 10 years, Spread Co provides access to thousands of global markets – equities, indices, currencies, and commodities.